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Globalization

Globalization is “the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture”.¹ Such a phenomenon has advanced due to the rapidly growing nature of technology and infrastructure.¹ For example, due to the improvements in telecommunications, transportation as well as accessibility to the internet, there has been an increase in interdependence between different countries and by extension different cultures.¹ 

Although scholars have traced the process of globalization to the third millennium BCE, way before the European age of discovery,² the process has truly been on the rise since the 1980s. In the context of international development, globalization is a fundamental concept, as it may affect business organization, economics and socio-cultural factors in a global sense. Thus, by understanding globalization, it can help elucidate the issues that shape international development.

Over many centuries, human societies across the globe have established progressively closer contacts.³ Multinational corporations manufacture products in many countries and sell to consumers around the world.³ Globalization not only refers to the economy, but also politics, culture and law. A globalized world does away with regulation and undermines local and national politics; it creates new markets and wealth, and has been known to cause widespread suffering, disorder, and unrest.³

Some of the issues being tackled include human rights, environmental protection and sustainable development. Therefore, it can be said that studying globalization is extremely important. So important in fact that many universities are offering a Master’s program on the topic.

 

Image source:

1. Wikimedia

References:

1. Al-Rodhan, RF Nayef and Gerard Stoudmann. (2006). Definitions of globalization: A Comprehensive Overview and a Proposed Definition.

2. Frank, Andre Gunder. (1998). ReOrient: Global economy in the Asian Age. Berkeley: University of California Press.

3. Global Policy Forum. Globalization. Retrieved May 6, 2014, from http://www.globalpolicy.org/globalization.html

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